BSE Ltd. has revised its share buyback price higher to Rs 1,080 from the earlier Rs 816 announced earlier. This comes after the recent surge seen in the company's stock price.

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However, the stock made an intraday high of Rs 1,134.60, which is already higher than the revised buyback price.

Additionally, BSE has also set September 14 as the record date for the share buyback. This means that shareholders who have shares of BSE as of this day will be eligible to participate in the buyback process.

BSE had announced a buyback last month at Rs 816 per share, which was to be carried out through the tender offer route. The total consideration for the buyback will now be Rs 374 crore. Based on the revised offer, the company will be buying back 34.7 lakh equity shares.

Since announcing the buyback, shares of BSE have already risen 30 percent. The stock is currently trading at a record high.

CNBC-TV18 had reported on Wednesday and Thursday about the surge in BSE's share price and what will the company do next, considering the shares had already surged past its announced buyback price.

Earlier in 2018, BSE had completed a Rs 166-crore open market share buyback at Rs 822 apiece (unadjusted price). Later, in 2019, the stock exchange did a tender offer buyback worth Rs 460 crore, when it repurchased its shares at Rs 680 apiece. Know more about buybacks in this piece.

Last year, BSE had also declared a 2:1 bonus issue, which meant that it issued two bonus shares for every one share held. The stock has been trading ex-bonus since March 2022. The stock exchange had also declared a dividend of Rs 13.5 per equity share for fiscal year 2023.

Shares of BSE are trading 0.8 percent higher at Rs 1,071.60. The stock is up for the fifth day in a row. Shares are also up 23 percent for the week so far, which is likely to be the best week since March 2022.

First Published:Sept 1, 2023 10:46 AM IST